The Truth About Zillow

 

But this is about their business model which is to generate phone calls to real estate agents paying for advertisements on their site. Yes, that's right, they are in business to sell ads, not homes.

 

Ask yourself, what generates more calls to agents paying for ads on their website? Low valuations or high valuations? If their valuations were low, so would the call volume to the agents paying to be one of their "Premier Agents". If the call volume is low, so will be their ad revenue. If the valuation is high, sellers will call thinking they just made a bunch of money, its time to sell and cash-in!

 

Their business model does create calls, I agree. But sometimes it is because of misleading data that produces the calls. This can put us real estate professionals between the truth and wishful pricing based on an inaccurate high valuation... and this misled consumer is now either disappointed and/or at odds with the individual that delivered the truth causing an honest salesperson to loose the confidence and trust of the potential client. 

 

As irritating as this is to the real estate industry, it does create the conversation and helps us real estate professionals prove our worth by providing accurate data. Our opinions include the subjective layers of buyer motivations, turn-on and turn-offs, values associated with improvements or need to make improvements.... and how it affects buyers desire for the home, their offer and the final sale price. Thats is something Zillow can not do. Zillow has never stepped foot in your home, they have never worked with a buyer or never sold a home. They don't have to, they sell ads and leads to their advertising Premier Agents.

 

Now consider my business model and how low values hurt me in two ways. First, it hurts the value of my personal home and all the other homes I am trying to sell. The more I sell your home for, the more my home is worth and so is the value for the other homes I am trying to sell. Right? Second, how could I win listings or promote great sales statistics if my values were low? I would lose listing appointments to other agents promising a higher price while praying on what is called "wishful pricing" in our business.

 

It happens a few times a year: "Oh Chris and Traci said its worth XXX,XXX?!?!  NOOOO! (shock and awe moment) - List with me, I can sell it for "X" much more!!!" - This is when a wishful seller takes the bait. This unethical agent provided a high valuation (knowing its high) to gain the listing. They know that it won't sell at that price and they will push a price reduction after it sits with no offers or let and get leads from the sign in your yard (to sell other homes priced appropriately). If you want to see proof of this activity, I have a list of those failed attempts by other sellers and their misleading agents at wishful pricing.

 

So your it's choice, have faith in the Realtors that has worked with hundreds of buyers selling hundreds of homes in your neighborhood with higher than average sales prices, and ONLY gets paid for doing good business selling homes... OR risk thousands of dollars on the opinion of the internet and/or a website that has NEVER been in your home, or in ANY home, NEVER worked with a buyer, and has NEVER sold a home.... and is only in business to generate calls to their advertising agents.

 

I am the one to sell your home for as much as I can. I am not going to pitch you wishful pricing so I can stick my sign in your yard and let you get beat you up on price later. I have accurate data, solid facts and stats to prove it. I have already invested years into evaluating and selling homes in your neighborhood and area. I'm on a team with the best results over the last 7 years with the highest average sales prices. We work hard, sell lots of homes and am proud of our stats, knowledge, expertise, and top of market results!